We jumped to No. 22 in the ranking, up from No. 53 last year.
Company News
Enterprise Comparable Sales Increased 23%
Domestic Comparable Online Sales Increased 174%
GAAP Diluted EPS Increased 35% to $1.48
Non-GAAP Diluted EPS Increased 82% to $2.06
MINNEAPOLIS, November 24, 2020 — Best Buy Co., Inc. (NYSE: BBY) today announced results for the 13-week third quarter ended October 31, 2020 (“Q3 FY21”), as compared to the 13-week third quarter ended November 2, 2019 (“Q3 FY20”).
(Click here for a PDF version. Click here to view full release and statements.)
| Revenue ($ in millions) | Q3 FY21 | Q3 FY20 |
| Enterprise | $11,853 | $9,764 |
| Domestic segment | $10,850 | $8,964 |
| International segment | $1,003 | $800 |
| Enterprise comparable sales % change1 | 23.0% | 1.7% |
| Domestic comparable sales % change1 | 22.6% | 2.0% |
| Domestic comparable online sales % change1 | 173.7% | 15.0% |
| International comparable sales % change1 | 27.3% | (1.9)% |
| Operating Income | ||
| GAAP operating income as a % of revenue | 4.7% | 4.0% |
| Non-GAAP operating income as a % of revenue | 6.1% | 4.2% |
| Diluted Earnings per Share (“EPS”) | ||
| GAAP diluted EPS | $1.48 | $1.10 |
| Non-GAAP diluted EPS | $2.06 | $1.13 |
For GAAP to non-GAAP reconciliations of the measures referred to in the above table, please refer to the attached supporting schedule.
The list is composed of 52 companies that are considered the best of the best at leading in workplace innovation.
This is our biggest commitment yet to renewable energy.
Only five U.S. retailers were included on this year’s index.
We take great pride in how we treat our employees, our planet and the communities we serve.
This is Corie’s second year as our CEO and her second year on the list.
This is our first time on list. We climbed more than 200 spots in ranking.
Since Best Buy began participating in the St. Jude Thanks and Giving® campaign eight years ago, we have proven that when a community comes together, amazing things can happen.
The St. Jude Thanks and Giving campaign is back at Best Buy, and starting Oct. 12, we are asking our employees and customers to come together once again to fight childhood cancer.
We are inviting customers to donate at the registers in every Best Buy store, online at BestBuy.com and during in-home service visits.
Sustainability has been at the core of what we do at Best Buy for decades, and now we’re making our biggest commitment yet to positively impact the planet.
Today, we announced we have signed The Climate Pledge, a commitment to be carbon neutral across our business by 2040 — a decade faster than our previous goal of 2050.
The Climate Pledge was co-founded by Amazon and Global Optimism in 2019 to mobilize companies across multiple business sectors to reach net-zero carbon emissions by 2040, 10 years ahead of the United Nations’ Paris Agreement on Climate Change.
As a founding partner in the Partnership for a ConnectedMN, Best Buy is proud to announce that $2.1 million has been awarded in grants to 23 organizations that provide support to students in urban and rural communities across the state.
ConnectedMN, a public-private partnership announced by Gov. Tim Walz in June, aims to address digital inequities facing Minnesota students by helping meet the technology and connectivity needs of families with school-aged children. This first round of grants will help an estimated 68,000 students by providing access to the computing devices and internet that is essential for distance learning and accessing critical support services.
With Election Day less than two months away, it’s incredibly important to us that our employees feel empowered to share their voices by voting. And as we said earlier this year, we’re doing more than ever to make sure all our employees have time to do so.
That’s why this year, for the first time, our stores won’t open until noon local time on Election Day, so our store employees have the time they need to cast a ballot in person, if they choose. Beyond that, we will make accommodations to ensure those who work in our supply chain locations, field offices, call centers and customers’ homes also get the time they need.